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It sure feels like there are only two phases for Tesla (TSLA - Free Report) stock. It’s either rocketing higher, going nearly parabolic like it did in the Spring of 2023 and mid-Summer this year, or it’s slowly chopping its way lower with a series of descending highs and deeper lows. After pushing up from under $140 to over $270 in just three months, shares have started their descent.
On a day where Canada announced a 100% tariff on Chinese EVs, matching US levels from May, Tesla gave up 3.2%. It failed to push through its 50-day moving average, and is now threatening to head even lower. While the move from $140 to $270 was swift, the move down to the $180s took less than a month. This lates move higher has now stalled and lows appear to be on the horizon.
In his video, Bartosiak employs technical analysis techniques to break down Tesla’s recent price movements. Here's a glimpse of how he dissects the chart:
Moving Averages: Bartosiak starts by examining the stock's moving averages, such as the 50-day and 200-day moving averages. He points out the significance of crossovers and divergences between these averages, which can indicate potential trend changes.
Support and Resistance Levels: Bartosiak identifies key support and resistance levels on the chart. These levels act as barriers that the stock price must breach or hold above, providing traders with critical decision points.
Chart Patterns: He discusses chart patterns like head and shoulders, cup and handle, or flags, and their relevance in predicting future price movements. These patterns can offer valuable insights into potential bullish or bearish trends.
Volume Analysis: He emphasizes the importance of volume analysis in confirming price trends. An increase in trading volume during a breakout or breakdown can validate the significance of a price move.
Dave Bartosiak's technical analysis approach adds depth to our understanding of Super Micro Computer’s stock chart. By paying attention to moving averages, support and resistance levels, chart patterns, technical indicators, and volume, he equips investors with a comprehensive toolkit for making well-informed decisions in the stock market. Remember, while technical analysis is a valuable tool, it's important to consider other factors like fundamental analysis and market sentiment before making investment choices.
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Dave's Daily Chart on Tesla
It sure feels like there are only two phases for Tesla (TSLA - Free Report) stock. It’s either rocketing higher, going nearly parabolic like it did in the Spring of 2023 and mid-Summer this year, or it’s slowly chopping its way lower with a series of descending highs and deeper lows. After pushing up from under $140 to over $270 in just three months, shares have started their descent.
On a day where Canada announced a 100% tariff on Chinese EVs, matching US levels from May, Tesla gave up 3.2%. It failed to push through its 50-day moving average, and is now threatening to head even lower. While the move from $140 to $270 was swift, the move down to the $180s took less than a month. This lates move higher has now stalled and lows appear to be on the horizon.
In his video, Bartosiak employs technical analysis techniques to break down Tesla’s recent price movements. Here's a glimpse of how he dissects the chart:
Moving Averages: Bartosiak starts by examining the stock's moving averages, such as the 50-day and 200-day moving averages. He points out the significance of crossovers and divergences between these averages, which can indicate potential trend changes.
Support and Resistance Levels: Bartosiak identifies key support and resistance levels on the chart. These levels act as barriers that the stock price must breach or hold above, providing traders with critical decision points.
Chart Patterns: He discusses chart patterns like head and shoulders, cup and handle, or flags, and their relevance in predicting future price movements. These patterns can offer valuable insights into potential bullish or bearish trends.
Volume Analysis: He emphasizes the importance of volume analysis in confirming price trends. An increase in trading volume during a breakout or breakdown can validate the significance of a price move.
Dave Bartosiak's technical analysis approach adds depth to our understanding of Super Micro Computer’s stock chart. By paying attention to moving averages, support and resistance levels, chart patterns, technical indicators, and volume, he equips investors with a comprehensive toolkit for making well-informed decisions in the stock market. Remember, while technical analysis is a valuable tool, it's important to consider other factors like fundamental analysis and market sentiment before making investment choices.